当代财经 ›› 2025, Vol. 0 ›› Issue (7): 153-164.

• 现代会计 • 上一篇    

供应链金融能抑制企业避税吗

马勇1, 吴兴宇2   

  1. 1.南京审计大学 会计学院,江苏 南京 211815;
    2.南京邮电大学 管理学院,江苏 南京 210003
  • 收稿日期:2024-10-30 修回日期:2025-03-23 出版日期:2025-07-15 发布日期:2025-07-22
  • 通讯作者: 马勇,南京审计大学讲师,管理学博士,主要从事资本市场财务与会计、公司治理研究,联系方式270499@nau.edu.cn。
  • 作者简介:吴兴宇,南京邮电大学讲师,管理学博士,主要从事资本市场财务与会计研究。
  • 基金资助:
    国家自然科学基金青年项目“电商主导型数字农业产业链金融:机制与效果研究”(72303112)

Can Supply Chain Finance Curb Corporate Tax Avoidance?

Ma Yong1, Wu Xing-yu2   

  1. 1. Nanjing Audit University, Nanjing 211815;
    2. Nanjing University of Posts and Telecommunications, Nanjing 210003, China
  • Received:2024-10-30 Revised:2025-03-23 Online:2025-07-15 Published:2025-07-22

摘要: 供应链金融具有缓解企业的融资约束、促进企业与上下游企业合作、稳定企业的供需关系等积极作用。以2010—2023年中国A股非金融上市公司为样本的实证研究发现,企业开展供应链金融业务可以抑制企业避税。机制检验表明,供应链金融可以缓解企业的融资约束、降低企业的经营风险、提高企业的信息透明度,因而供应链金融可以抑制企业避税。异质性检验发现,在税收征管力度大的地区的企业以及供应商集中度高、供应链透明度低、专业化分工程度高的企业中,供应链金融对企业避税的抑制作用更明显。为此,政府应进一步推动供应链金融发展和深化税制改革,探索建立供应链金融与税收征管协同的治理机制;金融机构和供应链核心企业应不断优化供应链金融业务体系,提升供应链上所有企业的税务合规水平。

关键词: 供应链金融, 企业避税, 融资约束, 经营风险, 信息透明度

Abstract: Supply chain finance has such positive effects as alleviating corporate financing constraints, promoting cooperation between enterprises and their upstream and downstream partners, and stabilizing the supply and demand relationships of enterprises. This paper conducts an empirical study using the non-financial listed companies on China’s A-share market from 2010 to 2023 as samples. The findings show that engaging in supply chain finance business can suppress corporate tax avoidance. The mechanism testing shows that supply chain finance can alleviate the financing constraints of enterprises, reduce their operational risks, and improve their information transparency. Therefore, supply chain finance can suppress tax avoidance by enterprises. The heterogeneity testing reveals that in enterprises located in regions with strong tax collection and management, as well as in enterprises with high supplier concentration, low supply chain transparency, and high degree of specialization, the inhibitory effect of supply chain finance on tax avoidance is more significant. To this end, the government should further promote the development of supply chain finance and deepen tax reform, and explore the establishment of a governance mechanism that coordinates supply chain finance with tax collection and management. Financial institutions and core enterprises in the supply chain should continuously optimize the supply chain finance business system and enhance the tax compliance level of all enterprises in the supply chain.

Key words: supply chain finance, corporate tax avoidance, financing constraints, business risks, information transparency

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